Economic Development

Over the last several months, UNSM has been working with Economic and Rural Development and Tourism (ERDT) and the Association of Municipal Administrators (AMA) to facilitate discussion on economic development at the municipal level. The Report of the Panel reviewing the Regional Development Agencies (RDAs) has proposed a more focussed approach, and 6 Regional Enterprise Networks (RENs), in addition to the Greater Halifax Partnership.

In January and February, UNSM held meetings throughout the province to hear the comments and concerns of municipal officials. The summary of the notes taken at these meetings attached below. These notes have been provided to the province, and discussed.

ERDT hosted a workshop March 26, 2013, and provided some of the answers to the questions raised. As well, Service Nova Scotia and Municipal Relations (SNSMR) presented a draft model governance structure and inter-municipal agreement in support of the REN approach. The slides used in this presentation are also below.

As work progresses, this site will post information that may be helpful to municipalities interested in establishing a REN.

UNSM is positioning itself to be a prime resource for municipalities, and to encourage municipalities to use evidence-based resources. CANMAC Economics has developed an econometric model on the Nova Scotia economy, used by the provincial Department of Finance because of its strong foundation and integrity. CANMAC has built an extension of the model which allows it to forecast a number of variables of interest to municipalities:

Canmac Economics Limited provides a unique strategic outlook service not available elsewhere. Canmac employs a proprietory advanced economic model to predict the future path of the Nova Scotia economy and the impact of the economy’s drivers on the outlook. Canmac’s quantitative approach is complemented by the insightful policy implications of the econometric trends provided by Dr. Jim McNiven. Dr. McNiven is a leading authority on policy impacts that emerge from our uncertain economic world. Once a year, as part of our service Dr. McNiven will present an in-house exclusive policy discussion for your organization.

UNSM has partnered with CANMAC Economics to provide municipalities with economic projections for the province. A number of reports are release periodically through the year. We have just received the Macro Economic Outlook for 2018-2022. The report discusses export markets, fiscal and monetary policies, Nova Scotia demographic trends; major industry trends including government. Projections for male and female population growth, 15-24 years of age, 25-65 years of age and 65 years and older. Only males and females 65 years of age an older are expected to increase in population. Gross domestic product and labour force growth is expected to be slow and modest, respectively, leading to a decrease in the unemployment rate. Household incomes will grow slowly, with some growth coming from retirees receiving income transfer payments. Please see the report for details.